2021 was a standout year for the cryptocurrency industry, as nearly 7 in 10 crypto holders started investing in 2021, according to new data from Huobi Group. While crypto knowledge among mainstream audiences remains low (More than 40% of respondents said they were “not very knowledgeable” or “not at all knowledgeable” about digital assets.), the significant uptick in investing over the last year suggests more people will look into crypto investments as awareness of the industry grows.
The results are a part of Huobi’s new report Crypto Perception Report 2022, which explores how the average person views cryptocurrencies, their thoughts on emerging trends, and if they plan on investing in the space in the future. Released today, the study polled more than 3,000 people in mid-December 2021 and assessed respondents’ knowledge of cryptocurrencies, how they feel about its sudden rise, whether they’re investing in crypto or not, and more.
Despite crypto’s banner year in 2021, many survey respondents still reported concerns that prevented them from investing in it. Nearly 25% of respondents believed that “it’s all a scam/bubble and going to collapse”, while 42% reported feeling ambivalent about its future or that they didn’t know enough about it. That being said, 19% of respondents were strong believers in the growing asset class, supporting the statement that crypto may transform the definition of money in the future.
Other key findings from the report:
- Skepticism and lack of funds hinder growth in crypto investing. 42% of respondents felt it was too risky, and 34% were concerned about the lack of market regulations. 25% of survey respondents said flat out that they didn’t have enough capital to invest in crypto.
- Audiences are aware of emerging trends. More than half of respondents said they had heard of NFTs and the “metaverse,” two of the biggest crypto-related trends of 2021. 25% were aware of DeFi, or decentralized finance.
- Crypto holders have a more positive outlook on the industry. 28% of respondents reported that they owned crypto investments; deeper analysis revealed that the overwhelming majority (68%) of these holders had only begun investing within the last year.
- Crypto investment holdings remain low-for now. 46% of respondents reported having $1,000 or less invested in the asset class, with another 25% reporting that they owned between $1,000 and $10,000 worth of crypto.
“Thanks to the rise of DeFi, NFTs, and other emerging sectors, crypto has seen interest from the everyday consumer grow substantially over the last year or so. However, we still have a long way to go before mainstream adoption will happen. Once more people take the time to understand the industry and there’s more clarity on global regulations, we can expect to see a spike in participation,”
said Jeff Mei, Director of Global Strategy at Huobi Group.
Cryptocurrency awareness will continue to grow in 2022, as more emerging sectors gain traction and crypto investing becomes more mainstream. While only 28% of survey respondents reported owning crypto, another 25% said that though they didn’t own crypto at the moment, they did plan to own it in the future.
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